Oil bubble bursts: Are low prices a crude awakening for climate activists?

Posted by Mike Confino, December 19, 2014

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As oil prices plummet, a world economy flooded with cheaper energy would seem to pose a serious threat to investment in renewable industries. While some experts say crude costs under $60 per barrel could scupper eco-friendly plans, others believe it could give them a boost.

Headlines around the world have heralded a new era for oil because of greater supply and weaker demand. Huge growth in shale oil production in North America has flooded the market, and European and Chinese consumption is down. But there are divergent views on what this means when it comes to investment in renewable projects.

Some think the sudden drop in prices of oil and natural gas deals a serious blow to curbing climate change.

via Oil bubble bursts: Are low prices a crude awakening for climate activists? | Al Jazeera America.